MamaMancini's Holdings, Inc. reported its results for the fiscal second quarter ended July 31, 2022, that revealed a +89% surge in revenue from the year-ago quarter. Gross profit fell -19% year-over-year. The company incurred an adjusted loss of -$0.02, compared to earnings of +0.01 per share in the year-ago quarter.
During the quarter, the food company appointed Adam L. Michaels as Chief Executive Officer and member of the Board of Directors, with Carl Wolf continuing to serve as Chairman.
"The second quarter was highlighted by record revenues, supported by healthy growth from our recent acquisitions, bringing us roughly in-line with Carl's previously announced goal of a $100 million annualized sales run-rate by year-end," said Michaels.
The group acquired a 24% minority interest in Chef Inspirational Foods with a fixed price option to buy the remainder